The operations and production management in an insurance company.

Types of restitution Organizations The two most common guinea pigs of damages companies be:-         Stock go with: - it sells personal credit border to rootholders to raise the money indispensable to operate the business. Stockholders argon not necessarily ensure by the play along, and insured person ones do not necessarily own stock in the company. The company is in the business of selling insurance. gain attributed to the operation of the company ar returned as dividends to the stockholders, not the insured ones. Nothing prohibits stockholders from purchase insurance from their own company or insured ones from buy shares of stock issued by their insurer. However, ownership of the company is altogether self-reliant from any contractual relationships the company has with indemnityholders as a supplier of insurance.         Mutual insurance Company: - functions protestently than a stock company. In a mutual company, there are no stoc kholders and the policyholders collectively are the owners of the company. As owners, they can choose to elite the management of the company. Profits are returned to the insured ones in the radiation diagram of dividends or reductions in future premiums. Most mutual companies are advance premium companies that charge non-assessable premiums--that is, policy-owners are never ineluctable to pay anything in addition to their premiums even if losses for the multitude exceed the amounts paid in during the policy period.

The cost of reporting from an assessment company will vary each policy period and can be small or tall depending on the experience of the group. Both stock and mutual companies are incorporated. Their marketing! practices and internal operations are nearly identical. Their structures differ whole in the areas of corporate ownership and management control. Scotch Life indemnification is a stock company. Lines of Insurance A way of classifying insurance companies is by the type of insurance policies they write. Insurance coverages are... If you want to get a abounding essay, order it on our website: OrderEssay.net

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